SAN FRANCISCO, CA / ACCESSWIRE / May 10, 2021 / Hagens Berman urges PureCycle Technologies, Inc. (NASDAQ:PCT) investors with significant losses to submit your losses now. The firm is investigating possible securities fraud and certain investors may have valuable claims.
Visit: www.hbsslaw.com/investor-fraud/PCT
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844-916-0895
PureCycle Technologies, Inc. (NASDAQ: PCT) Investigation:
The investigation focuses on PureCycle's repeated claims that it is an environmental, social and governance ("ESG") company.
PureCycle and its management have repeatedly claimed the company is commercializing a patented purification recycling technology developed by The Proctor & Gamble Company for restoring waste polypropylene into resin with near-virgin characteristics.
On May 6, 2021 the company's claims were brought into serious question when analyst Hindenburg Research published a scathing report entitled "PureCycle: The Latest Zero-Revenue ESG SPAC Charade, Sponsored By The Worst Of Wall Street." Among other things, Hindenburg concludes the purification recycling technology PureCycle touts is "unproven" and its financial projections are "ridiculous." Hindenburg also observes the SPAC sponsors have an "odious" reputation, received founders shares for ~1 penny/sh, and then issued "buy" recommendations with targets between $45 - $48/sh.
In response to this news, the price of PureCycle shares crashed lower.
"We're focused on investors' losses and whether PureCycle and its management may have engaged in greenwashing," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you are a PureCycle investor and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding PureCycle should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
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Contact:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP